Wednesday, June 5th, 2019

 

White House adviser says tariffs on Mexican goods may not be needed

WASHINGTON, June 5 — White House trade adviser Peter Navarro said today a US plan to impose tariffs on Mexican goods may not have to take effect, offering a glimmer of hope for Mexico and American businesses concerned that the levies could badly…


US stocks extend rally after more dovish Fed tilt

WASHINGTON, June 5 — Wall Street stocks rose early today, shrugging off weak private-sector hiring data and extending a rally following more dovish Federal Reserve statements. Comments from Fed officials this week have opened the door to a…


IMF warns US-China tariffs to slash global growth in 2020

WASHINGTON, June 5 — Current and threatened US-China tariffs could slash global economic growth by 0.5 per cent in 2020, the International Monetary Fund warned today as world finance leaders prepare to meet in Japan this weekend. IMF Managing…


EU budget includes British contribution, for now

BRUSSELS, June 5 — The European Commission laid out a proposed €168-billion (RM785.9-billion) budget for 2020 today, based on Britain continuing to pay into it under an as-yet unratified Brexit agreement. But, if the UK leaves the 28-nation bloc…


IMF slightly lowers China’s 2019 GDP growth forecast to 6.2pc

PEKING, June 5 — The International Monetary Fund today said it was lowering China’s economic growth forecast for 2019 and 2020, citing “uncertainty” over the trade war between Beijing and Washington. The world’s second-largest economy is…


French finance minister says Renault to bring case against Ghosn over expenses

PARIS, June 5 — The finance minister of France, which holds a 15 per cent stake in Renault, said today the auto giant plans to bring a case against former chief executive Carlos Ghosn after identifying €11 million (RM51.6 million) of…


China’s importers apply for tariff waivers on US goods

BEIJING, June 5 — Chinese importers are preparing applications for waivers on import tariffs levied on more than 700 US goods in the Sino-US trade war, after the Ministry of Finance said it would start taking submissions. A list of goods on which…


No need to rush Renault-Fiat merger talks, says French finance minister

PARIS, June 5 — French Finance Minister Bruno Le Maire said there was no need to rush regarding the US$35 billion (RM145.9 billion) merger talks between carmakers Renault and Fiat Chrysler, while reiterating that he nevertheless wanted the deal to…


Report: EU to start infringement procedure against Italy

MILAN, June 5 — The European Commission will launch disciplinary procedures against Italy today with a letter stating that Rome’s fiscal policies lack prudence and could expose the nation to a shock loss of market confidence, newspaper La…


China fines Ford joint venture in latest hit on US firm

BEIJING, June 5 — China yesterday imposed a US$23.6 million (RM98.6) fine on US auto giant Ford's joint venture with Changan Automobile for “price fixing” in the latest incident of Beijing targeting an American company amid a festering trade…